LEARNING & ASSET DEVELOPMENT: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
LEARNING & ASSET DEVELOPMENT
Largest movements
- Receivables within one year +€35,722
up €35,722 (+64.1%), from €55,688 to €91,410
of which Trade receivables: +€34,769
- Cash -€33,049
down €33,049 (-59.7%), from €55,367 to €22,317
mainly Receivables within one year (-€35,722) and Trade debts (-€22,465)
- Deferred charges and accrued income -€21,170
down €21,170 (-87.4%), from €24,230 to €3,060
- Tangible fixed assets -€3,101
down €3,101 (-44.6%), from €6,947 to €3,847
- Trade debts -€22,465
down €22,465 (-28.0%), from €80,175 to €57,710
- Tax, wage and social debts +€4,526
up €4,526 (+27.6%), from €16,381 to €20,907
of which Taxes: +€6,428
- Accrued charges and deferred income -€3,456
down €3,456 (-39.0%), from €8,856 to €5,400
- Gross operating margin +€6,905
up €6,905 (+9.6%), from €71,723 to €78,628
- Staff costs +€6,798
up €6,798 (+10.3%), from €65,720 to €72,518
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €143,072 | €121,474 | -€21,598 | -15.1% |
| Fixed assets | 21/28 | €7,787 | €4,687 | -€3,101 | -39.8% |
| Tangible fixed assets | 22/27 | €6,947 | €3,847 | -€3,101 | -44.6% |
| Plant, machinery and equipment | 23 | €6,947 | €3,847 | -€3,101 | -44.6% |
| Financial fixed assets | 28 | €840 | €840 | = | 0.0% |
| Current assets | 29/58 | €135,285 | €116,787 | -€18,498 | -13.7% |
| Amounts receivable within one year | 40/41 | €55,688 | €91,410 | +€35,722 | +64.1% |
| Trade receivables | 40 | €55,320 | €90,089 | +€34,769 | +62.9% |
| Other amounts receivable | 41 | €368 | €1,321 | +€953 | +259% |
| Cash at bank and in hand | 54/58 | €55,367 | €22,317 | -€33,049 | -59.7% |
| Deferred charges and accrued income | 490/1 | €24,230 | €3,060 | -€21,170 | -87.4% |
| Total equity and liabilities | 10/49 | €143,072 | €121,474 | -€21,598 | -15.1% |
| Equity | 10/15 | €36,754 | €36,756 | +€1 | 0.0% |
| Contributions | 10/11 | €20,357 | €20,357 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,398 | €16,399 | +€1 | 0.0% |
| Amounts payable | 17/49 | €106,318 | €84,718 | -€21,600 | -20.3% |
| Amounts payable within one year | 42/48 | €97,462 | €79,318 | -€18,144 | -18.6% |
| Trade debts | 44 | €80,175 | €57,710 | -€22,465 | -28.0% |
| Suppliers | 440/4 | €80,175 | €57,710 | -€22,465 | -28.0% |
| Taxes, remuneration and social security | 45 | €16,381 | €20,907 | +€4,526 | +27.6% |
| Taxes | 450/3 | €5,515 | €11,943 | +€6,428 | +117% |
| Remuneration and social security | 454/9 | €10,866 | €8,964 | -€1,902 | -17.5% |
| Other amounts payable | 47/48 | €906 | €701 | -€205 | -22.6% |
| Accrued charges and deferred income | 492/3 | €8,856 | €5,400 | -€3,456 | -39.0% |
| Remuneration, social security and pensions | 62 | €65,720 | €72,518 | +€6,798 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,562 | €3,101 | +€539 | +21.0% |
| Other operating charges | 640/8 | €694 | €794 | +€100 | +14.4% |
| Gross operating margin | 9900 | €71,723 | €78,628 | +€6,905 | +9.6% |
| Operating profit (loss) | 9901 | €2,748 | €2,216 | -€532 | -19.4% |
| Financial income | 75/76B | €77 | €0 | -€77 | -99.9% |
| Recurring financial income | 75 | €77 | €0 | -€77 | -99.9% |
| Financial charges | 65/66B | €791 | €896 | +€105 | +13.3% |
| Recurring financial charges | 65 | €791 | €896 | +€105 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €2,034 | €1,319 | -€715 | -35.1% |
| Income taxes | 67/77 | €1,400 | €1,318 | -€82 | -5.8% |
| Profit (loss) for the period | 9904 | €634 | €1 | -€633 | -99.8% |
| Profit (loss) for the period to be appropriated | 9905 | €634 | €1 | -€633 | -99.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.